]]>Netsertive, a digital marketing intelligence technology company that enables brands and their local channel partners with turnkey, co-op compliant digital marketing capabilities, today announced another milestone in its award-winning momentum in 2016. Netsertive’s continuous success highlights a growing demand among top brands for better alignment with the local retailers they depend on to deliver over 90 percent of their annual sales. Still, an astonishing 93 percent of brands and local retailers admit they’re struggling to align local marketing efforts, contributing to nearly $14 billion in cooperative marketing fundsbeing wasted each year.

Netsertive signed several new customers in 2016, and has reported continued success with top brands, including Serta, Electrolux and Acura, reinforcing the company’s momentum in the automotive, home goods, technology and healthcare sectors. Further, the company has reported a 400 percent revenue growth over the past three years and has expanded its workforce to 250 team members. In 2016, it added two strategic executive appointments: Dave Logan as VP of Products and Debbie Edmondson as VP of Team Development. Moving into 2017, Netsertive will continue to enhance its marketing technology platform, with a focus on deeper campaign analytics and attribution, to meet the advancing needs of brands and their local partners.

“While many leading brands are beginning to see local marketing as a crucial part of their omnichannel strategy, most are still a long way from offering their customers a truly seamless experience in local markets,” said Brendan Morrissey, CEO and co-founder, Netsertive. “Our company has a huge opportunity to help these brands finally bridge the gap between their customers’ digital and physical worlds – and that starts with brands’ engaging and empowering their local retail networks at scale.”

In November, Netsertive – for the fourth consecutive year – earned an impressive ranking in Triangle Business Journal’s list of the 50 fastest-growing private companies in North Carolina’s Research Triangle region. In addition, CEO Brendan Morrissey was named North Carolina’s Tech Innovator of the Year, a prestigious honor awarded by financial consulting firm Grant Thornton, to individuals who have contributed to the long-term success of their company through innovative thinking and steadfast leadership.

]]>SIM Partners’ Velocity Health to Be Inducted into 2016 Healthcare Internet Hall of Famehttp://rccf.com/sim-partners-velocity-health-to-be-inducted-into-2016-healthcare-internet-hall-of-fame/
Fri, 28 Oct 2016 14:22:07 +0000http://rccf.com/?p=3008The Healthcare Internet Hall of Fame today announced that SIM Partners' Velocity Health has been selected as an inductee into the organization's Hall of Fame Class of 2016. The award will be presented at an induction ceremony to be held on November 8, 2016, at the 20th Annual Healthcare Internet Conference (HCIC) in Las Vegas.

Recognized in the Innovative Product or Service category, SIM Partners’ Velocity Health, a location marketing solution for healthcare marketers in the age of the on-demand consumer, connects patients with physicians and facilities in the moments when and where they are looking for care.

“In today’s mobile, on-demand world, patients are on an omnichannel journey which most often starts with search,” said Jon Schepke, CEO, SIM Partners. “It’s an honor to be recognized alongside other healthcare innovators, as we help transform the patient experience from search to care and beyond.”

A comprehensive solution, SIM Partners’ Velocity Health empowers healthcare organizations – including Advocate Health Care, Duke Health, and Cottage Health – to improve the patient experience from awareness and consideration through acquisition and retention. Velocity Health activates one source of truth for physician and facility location data to drive search visibility and patient acquisition through physician directories and profiles. An open architecture enables transactions on physician profiles – including scheduling, transparency, ride-sharing and more – that engage and retain patients while maximizing existing technology investments.

]]>AMNIOX Highlights Study Demonstrating Improved Outcomes in Patients Treated with CLARIX® Regenerative Matrix as an Adjunct to Lumbar Discectomyhttp://rccf.com/amniox-highlights-study-demonstrating-improved-outcomes-in-patients-treated-with-clarix-regenerative-matrix-as-an-adjunct-to-lumbar-discectomy/
Thu, 27 Oct 2016 13:04:21 +0000http://rccf.com/?p=3006AMNIOX Medical, Inc., a TissueTech™, Inc., company, announced the results of a prospective randomized clinical study of its proprietary cryopreserved Amniotic Membrane (AM) as an adjunct to lumbar discectomy. The findings will be presented at the North American Spine Society 2016 Annual Meeting, by the study’s lead investigator, D. Greg Anderson, M.D. of the Rothman […]

]]>AMNIOX Medical, Inc., a TissueTech™, Inc., company, announced the results of a prospective randomized clinical study of its proprietary cryopreserved Amniotic Membrane (AM) as an adjunct to lumbar discectomy. The findings will be presented at the North American Spine Society 2016 Annual Meeting, by the study’s lead investigator, D. Greg Anderson, M.D. of the Rothman Institute in Philadelphia, PA.

The study included 80 patients, with half of the patients receiving CLARIX 100 in the disc space following removal of the disc herniation and half receiving the standard of care which involved removal of the herniation alone. Patients treated with CLARIX saw statistically significant improvement in Oswestry Disability Index (ODI) scores and SF-12 (Physical Composite Scale) at six weeks and two years. The ODI quantifies disability due to low back pain and the SF-12 assesses the patients’ physical and mental well-being. The study also reports that there were no recurrent herniations in the CLARIX treatment group during the 2-year follow-up period, compared to a 7.5 percent recurrence rate in the control group.

“Degenerative disc disease is the most common source of back pain and lumbar discectomy is the most common surgical intervention to treat this condition. However, residual back pain and recurrent herniations can be as high as 20%” said Dr. Anderson, Professor in the Departments of Orthopaedic and Neurological Surgery at Thomas Jefferson University and Clinical Director of the Spine Section of the Orthopaedic Research Laboratory. “These results indicate that the application of CLARIX can influence the healing response to significantly improve post-surgical outcomes. Patients experience reduced pain and a faster and sustained return to activities of daily living. Additionally, although it was not an endpoint identified in the study protocol, we observed a reduction in the use of narcotics in the patients treated with CLARIX.”

“This Level 1 study is the first one to evaluate the benefits of placental tissue in conjunction with discectomy and is clear evidence that the benefits of CLARIX that have been observed in other orthopedic procedures can be brought to patients undergoing spinal surgery” said Tom Dugan, Chief Executive Officer of Amniox Medical. “Equally important to the clinical benefits observed are the enormous health economic implications of this study. Reductions in the rate of rehospitalization and in the number of future operations for reherniation make this a technology that will be embraced by payers as well as providers.”

Amniox parent TissueTech pioneered the commercialization and clinical application of human umbilical cord and amniotic membrane to promote regenerative healing. This restorative ability is innate to these placental tissues and can be preserved and transplanted to adults. Heavy chain hyaluronic acid/pentraxin-3 (HC-HA/PTX3) is the key protein complex present in these tissues to orchestrate that regenerative healing process. Amniox utilizes its proprietary CryoTek® process, a cryopreservation technology, to preserve the biological and structural integrity of these tissues more effectively than other available technologies. Since the company’s inception, clinicians have performed more than 250,000 human transplants of its products and published more than 300 peer-reviewed studies supporting its technology platform.

]]>Veran Medical continues its rapid cadence of innovation with the introduction of a suite of new hardware, software and lung access products designed to continue to drive consistently higher bronchoscopy yields and the faster diagnosis of lung cancer. The earlier patients are diagnosed, the faster they can receive life saving therapy and improve chances of survival.

Lung Cancer remains the number one cancer killer in the United States. 94 million current or former smokers remain at elevated risk. More than 8 million people in the US currently meet the criteria for lung cancer screening. When suspicious lesions are discovered, patients need answers. But mounting clinical data suggests that a large percentage of the hundreds of thousands of bronchoscopies performed every year on suspected lung cancer patients are non-diagnostic—delaying potential life saving therapy.

Veran’s new SPiN Planning™ and SPiN Drive™ navigation software will offer a more streamlined workflow, increased procedural efficiency, and a better user experience with powerful graphics, faster computing times, more visualization options, and views that can be completely customized by any physician. New hardware features include touchscreen technology, wireless procedure controls—allowing support staff to control the system anywhere in the procedure room, faster import and export speeds, and new instrument ports to enable simultaneous instrument connections for procedural efficiency.

“Physicians tell us they want better control over diagnostic yields to expedite life saving therapy for their patients. They don’t want historical technology shortcomings to delay delivering appropriate therapy to patients who need it, “ said Veran CEO Jason Pesterfield. “Veran’s next generation SPiN Thoracic Navigation System™ directly address these challenges—like the ability to track moving nodules, account for patient respiratory cycles during procedures, ensure physicians always have visualization throughout a procedure, and reach the 40% of nodules that lie outside an airway.”

Veran is also introducing the SPiN Extended Working Channel (SPiN EWC™)—a catheter based diagnostic tool to reach elusive peripheral pulmonary nodules. The SPiN EWC™ is paired with Veran’s exclusive Always-On Tip Tracked® sampling instruments to ensure that physicians never lose sight of the target lesion throughout the entire procedure—including when they’re sampling. Unlike other solutions on the market, the SPiN System™ does not require the use of fluoroscopy.

]]>Continuity, the leading provider of Regulatory Technology (RegTech) solutions for financial institutions, has surpassed growth expectations through August and is on pace for record-breaking results in 2016. Punctuating this growth, Inc. Magazine ranked Continuity No. 955 on its 35th annual Inc. 5000, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment— its independent small businesses. “The Inc. 5000 list stands out where it really counts,” says Inc. President and Editor-In-Chief Eric Schurenberg. “It honors real achievement by a founder or a team of them. No one makes the Inc. 5000 without building something great.”

Contributing to Continuity’s growth has been the successful introduction of RegAdvisor Pro™, its regulatory change and compliance management solution, in Q4 2015. Continuity has exceeded revenue growth projections and annual recurring revenue (ARR) growth year-to-date, with a 20 percent lift in its client base. Some of Continuity’s more notable clients added through August include Banc of California, Fidelity Bank (KS) and Bank of the Ozarks. The company expects this record pace to continue through year’s end.

“We are thrilled to welcome institutions of all sizes to the RegAdvisor Pro family, from First National Bank of Syracuse to BofI Federal Bank,” said Continuity Chief Revenue Officer Michael Souza. “Continuity’s solutions are powerful and intuitive, yet cost effective and designed with client satisfaction in mind. It is quite an honor to be named to the Inc. 5000 for the 2nd straight year. We have great products, a great team and we’re very excited to build on this momentum.”

Recognizing that smaller community banks have differing needs than those of larger banks, RegAdvisor Pro is designed to be tailored to meet these different needs. BofI Federal Bank has strong internal processes for managing risk and compliance, but wanted a better way to stay on top of regulatory updates and changes. BofI’s FVP of Lending Compliance, Russ Tolleson says, “Continuity’s RegAdvisor Pro has provided BofI with an excellent customized tool for more efficiently reviewing regulatory updates and integrating that review with our other GRC information systems.” Flexibility in delivering BofI’s content is another example of Continuity’s dedication to providing solutions to institutions of all sizes, so that regulatory change management becomes easier and more cost effective.

RegAdvisor Pro repeatedly demonstrates its value to financial institutions large and small. New clients range from Bank of the Ozarks, the largest Arkansas based bank with over $17 billion in assets, to First Citizens Bank of Polson, a $19.5 million, one location bank, in Montana. Other new clients selecting RegAdvisor Pro in 2016 range from under 250 million up to several billion in assets, including C&F Bank (VA), Kauai Federal Credit Union, Standard Bank (PA), Laona State Bank, Mills County State Bank, Equity Bank (KS) and The Tennessee Credit Union. RegAdvisor Pro’s unique filtering capabilities and scalable platform reliably handle regulatory change and compliance management for clients as they grow and their needs become more complex.

Continuity has recently reorganized to better integrate and streamline internal teams, and in turn, better promote client growth and retention, ring out inefficiencies and increase revenue.

As part of this reorganization, Continuity recently announced board member Michael Nicastro assumed the role of interim CEO. In addition, Noel M. May was promoted to the position of vice president of marketing. May has over a decade of experience in the financial space and has most recently held leadership positions with SaaS and cloud providers. Prior to joining Continuity, May served as the director of marketing for BAE Systems (formerly SilverSky), a cloud security solutions provider.

“I am thrilled to be joining the executive team during such an exciting time for Continuity,” said May. “RegAdvisor Pro is the only product in the industry that delivers a complete level of compliance management to banks and credit unions. In just a short time, we have seen a record number of inquiries about our services, proving that the financial industry desperately needs a solution from a company that understands the regulatory challenge they are facing. RegAdvisor Pro, and its suite of products, is that solution.”

The Connecticut Technology Council (CTC) and Marcum LLP announced Continuity, overall winner of the Marcum Tech Top 40 (TT40) award in 2015 has made the list for the second year in a row of fastest growing technology companies in Connecticut. The Marcum Tech Top 40, now in its 9th year, recognizes technology leaders in six industry sectors, including Advanced Manufacturing, Energy/Environmental, Life Sciences, New Media/Internet/Telecom, IT Services, and Software. Continuity has been named a Tech Top 40 in the software category.

Continuity’s impressive growth in 2016 is evidence to the company’s innovative thinking and vested interest in making regulatory change and compliance solutions accessible to every financial institution. “Our continued growth validates the effectiveness of our solutions, and we’re looking forward to providing even more impressive results throughout the remainder of the year and into 2017,” said Alan Hurwitz, chief financial officer at Continuity.

]]>Navigating the Value Analysis Committeehttp://rccf.com/navigating-the-value-analysis-committee/
Wed, 24 Aug 2016 13:08:54 +0000http://rccf.com/?p=2965To provide medical device and technology companies with a greater perspective on successfully navigating VACs, we spoke with four River Cities’ med tech portfolio companies that have dedicated countless hours to mastering the pathway to get innovative products in front of and approved by these ever-vigilant committees.

]]>No matter how groundbreaking or seemingly life-saving the medical technology, the criteria serving as the barrier between innovation and clinical utilization are simple: “What does it cost and how do we calculate its value?” The gatekeepers? The hospital value analysis committees (VACs).

These committees, made up of physicians, nurses, purchasing agents, liability specialists, supply chain management and administrators, evaluate all new product purchases for the hospital or clinic setting.

“The VAC is designed to limit unbudgeted capital and to keep disposable costs to a minimum. For that reason, bringing true innovation to market is as challenging as ever,” says Jim Pearson, CEO, NICO Corporation, the leading innovator in the design of automated, minimally invasive neuro and spinal tissue and tumor removal instruments.

For med-tech companies like NICO, focus on the so-called “Triple Aim” is key: Improve patient experience, improve population health and reduce cost of care. Clinical data serves as the most effective way to communicate that your technology checks all three boxes. Understanding a particular VAC process, being knowledgeable on its committee composition and knowing the challenges that the institution is facing are equally important components of the equation.

To provide medical device and technology companies with a greater perspective on successfully navigating VACs, we spoke with four River Cities’ med tech portfolio companies that have dedicated countless hours to mastering the pathway to get innovative products in front of and approved by these ever-vigilant committees.

What is the typical path to get in front of the VAC?

Ryan Denney, Veran: The pathway to get products in front of a VAC is dependent on the product. For capital equipment, the process can go one of two directions. In many facilities, a VAC won’t put capital on their agenda until there is an established interest from a physician, and the product has been budgeted. In other instances, the VAC needs to approve prior to the hospital budgeting for the technology. Typically, physician interest is imperative if you want approval from a VAC.

For disposables or single-patient-use products, the VAC process can be very different. Traditionally, if the disposable is affiliated with a piece of capital (razor/razorblade model), then disposables will get approved/denied at the same time that capital is approved/denied. If disposables are additive to a piece of capital, physician support will be necessary if the product needs to go through the VAC. In many instances, device companies can avoid the VAC with these products if they can show a benefit to the patient, and if the cost is similar to the other disposables being used with that capital.

Tom Dugan, Amniox Medical: The first step is to identify and confirm the process, timeline and requirements for the VAC. Attempt to identify key VAC members to understand composition of the committee and areas of focus. Recognize that different types of institutions [For profit, Not-For-Profit and Government hospitals] have different approaches and objectives within the VAC.

Identify clinical product champions (three – five) willing to put forth the effort to request the product. Physicians are critical, but groups of clinicians (physicians, nursing staff, etc.) across multiple specialties would be ideal. Clinical evaluation of the product may be permitted or even required prior to VAC submission.

Ensure that all material is developed and delivered in the appropriate format [hard copy, electronic]. Proof all material and use a checklist to confirm requirements are met. Submit the material in advance of the required date [two – five days].

What communication takes place between a potential vendor and VAC prior to the initial meeting?

Ryan Denney, Veran: This is very dependent on the relationship that the sales representative has with the physician and with hospital administration. If a good relationship exists, there is typically some good dialogue between the vendor and the individual presenting the new technology to the VAC (typically the physician champion), as the individual presenting tends to trust the vendor to provide all relevant information that will be needed for the VAC meeting. Obviously, this enhances the chances of approval for the vendor. If the relationship is limited, the VAC will do most of their research and due diligence without the help of the vendor.

James Kim, OrthAlign: There typically isn’t much of an opportunity to interface with the VAC prior to the initial meeting, however, it should be noted that there is no one standard way of a hospital operating a VAC.

Jim Pearson, NICO: Typically, there is limited or no vendor-to-VAC communication. Discussions take place through the physician via completing questions on a template or form. The VAC typically does not permit the vendor to be in any meetings or to communicate directly with the committee. Our job is to educate the sponsoring physician as best we can – we can review and contribute to documents the physician submits to the VAC and we help adequately prepare the physician prior to the meeting so they can comprehensively defend their request in front of the committee.

Tom Dugan, Amniox Medical: Typically requests for many data points: ATTB, FDA, insurance verification, scientific/technical information, clinical studies, manufacturing info (latex free?), pricing and GPO/IDN contracts. If in-house clinical evaluation is required, there is often an agreement re: the number of cases and standard/metric to be used in the evaluation.

Is it at all similar to meeting with the FDA?

James Kim, OrthAlign: No. The FDA focuses on the clinical side of a product. The VAC emphasizes the economics behind something. As VACs are playing a bigger role in the need to “fix” hospitals’ financials, I believe they are purely focused on cost-cutting. Eventually, as the cost-cutting exercise runs its course, clinical importance and value will begin to play a bigger role as all of the “waste” is identified and extracted out of hospitals.

Ryan Denney, Veran: No, I don’t believe it is very similar to meeting with the FDA. I have worked with FDA in previous roles regarding product approval (PMA and 510k), and the VAC has different objectives when considering product approval. As most are aware, FDA is concerned with patient safety first and then efficacy after. Because of that, most VACs do not have to concern themselves with patient safety (they rely on the FDA for that). On the other hand, they do spend significant time on outcomes and efficacy, and how those relate to their overall ROI. In other words, if the product gets approved, how does that help patient outcomes, and how do those outcomes affect the bottom line for the hospital? With the above said, VACs definitely consider any and all published data and information that provides negative product feedback (infection rates, readmission rates, product failure rates, etc.), but the bigger concern seems to be the overall patient benefit when compared to cost and reimbursement.

How do you prepare for such a meeting?

Ryan Denney, Veran: Traditionally, vendors are not allowed to participate in VAC meetings. That said, there are special circumstances when members of the VAC ask vendors to attend to answer questions and/or to address potential concerns or issues.

It is also of great importance if the vendor can get his/her physician champion to the VAC meeting. Without a “voice” in the room, many VACs assume that physician support is minimal, and therefore, usage will be minimal as well. This will almost certainly result in the VAC voting to prevent the product from being accepted into the institution.

James Kim, OrthAlign: We have a Value Analysis Committee Kit that our sales reps can use as a full resource that includes all information required by various VACs. Content includes:

– Formal Letter Template that Surgeon Champion can use for submission to VAC

– FDA documents

– Product Description

– Instructions for Use

– Product Codes

– Clinical Studies

– Case Studies

– Cost Benefit Tools

– Marketing Brochures

– Education Brochures

– Surgeon Education Program

– Staff Training Overview

– Pricing Information

– Reimbursement Information

– Product Warranty Information

– Key Contacts

Jim Pearson, NICO: We developed a VAC form about two years ago after reading more than 35 VAC overviews and selling over 50 products that required review and approval by VACs. The form, once completed by the physician, answers the most common questions asked by VACs and is then submitted by the physician to the VAC.

Tom Dugan, Amniox Medical: Up-front probing to determine VAC process, composition and issues/challenges at the institution. Review the proposed submission with the product champions and work with them to ensure that they fully understand it and can effectively communicate it. Get their feedback so that the package can be revised as appropriate based upon their prior experience or knowledge of VAC process/issues.

Every VAC is different so the preparation is individualized and specific to that institution. However, our marketing team is preparing a standardized toolkit to provide comprehensive information that can be tailored to the specific institution/VAC.

What is required of a vendor’s physician sponsor(s)?

Jim Pearson, NICO: It requires several commitments and deliverables from them. Number one: It requires their time, which is very limited. Number two: It requires that they complete their own VAC form and provide estimates on product usage and value. Third: It requires that they attend the VAC meeting to represent and defend their product selection. I must add that for replacement products or perhaps a new product with a simple new aspect, this is typically not as big of an issue. However, when you have a truly innovative product that is a breakthrough technology, it’s important to think about what the VAC is asking and comprehensively respond so that they have a true understanding of product value, both clinically and economically, and they can see differentiation between existing products and the innovative product they are being asked to review. They want to know:

– How is the product or technology better?

– What does it replace?

– How is it innovative?

– How does it or can it save cost or improve hospital economics?

The VAC process, for this reason, is terrible for truly innovative technologies. It’s okay for day-to-day products, but for truly innovative products and technologies, I think there is a need for a specific “innovation track” that analyzes these innovative technologies through a different lens. Without this, I fear innovation will significantly suffer or stagnate.

James Kim, OrthAlign: He/she needs to be a user of the product and present to the committee why it should be brought into the hospital’s portfolio of products. That is why a tool such as the VAC Kit is important: A surgeon needs help in building the story on why.

Ryan Denney, Veran: In most instances, there is not much required from the physician champion. If the sales representative is good, and he/she understands the process, the physician effort should be minimal. If possible, it is ideal if a physician can do a bit of due diligence prior to the VAC meeting to help justify the approval.

Observing a case or two with the new product provides a bit of legitimacy to the request for new technology. At the same time, physician peer-to-peer conversations can help the requesting physician explain the justification for new technology. There seems to be a higher likelihood of approval when physician champions invest a bit of their own time in an effort to gain VAC approval.

What are the clinical data requirements for 510K devices in the eyes of the VAC?

Jim Pearson, NICO: Proof that there is clinical improvement while making the hospital money is an essential aspect. This is the new “Triple AIM” in which healthcare institutions are being measured by today. When you can consistently show exemplary patient outcomes using a technology that all surgeons can use after training that allows for significantly improved hospital economics, you’ve made a great case for meeting Triple AIM. NICO has several examples of patient stories that support Triple AIM, such as Blakely Murphy’s tumor removal story and Gigi Gelvosa’s stroke treatment story.

Ryan Denney, Veran: It would seem that VACs are assessing clinical data more thoroughly than in the past. I would say that most VAC members are asking for more data, and they do seem more interested in the quality of the data. At the same time, they are definitely interested in the efficacy of a device when compared to similar devices. Not to state the obvious, but if the cost is the same or higher, and if the data is similar to an already approved device, the odds of approval go down. If the cost is the same or higher, and if the efficacy is deemed to be better, the odds of approval increase drastically.

In the past, you could often use case studies or “white papers” to help with the VAC approval process. Although those can still be submitted for review, they don’t seem to carry as much weight as they once did regarding approval.

Tom Dugan, Amniox Medical: Yes, but it typically depends on the account and the level of champion.

Ryan Denney, Veran: FDA approval and physician interest will typically get an evaluation or trial set up at a hospital. Interestingly, most facilities are open to evaluations of new equipment, and the road blocks to starting a trial aren’t overly challenging as long as the vendor has a physician champion. That said, a successful evaluation used to almost guarantee a purchase, and that is not the case anymore. Knowing the appropriate time to schedule a trial is paramount to success when considering the sales process.

In many instances, hospitals will ask for free product for the trial, but that is negotiated with each facility independently. Most hospitals will also ask for some administrative/legal paperwork to be filled out prior to any sort of evaluation involving patients. Most of this is intended to indemnify the hospital of any potential adverse events and to eliminate all responsibility to the hospital and their staff regarding any “breakage” associated with the equipment or device.

As expected, training and support are required from the vendor, and most vendors would never set up an evaluation without providing proper clinical coverage.

What does it typically take to get paid for consistent use?

Jim Pearson, NICO: Typically, if you have consistent use, it’s actually better. Hospitals are done buying products/devices for doctors that don’t get used as often as they thought they would. If we’re able to achieve the Triple AIM as vendors, we’re in a great position with VACs because they don’t typically see system value – they only see expenditure value. Utilization is largely based on personal preference, market size, who’s on call, and so on.

Tom Dugan, Amniox Medical: In-hospital use is covered under the DRG for the particular procedure. Reimbursement is required for the outpatient or office setting.

Has the power of the VAC increased, decreased or stayed the same over the past 24 months?

James Kim, OrthAlign: The VAC approval process is currently in the “panic” mode state, and it has been for the past two years. With CCJR/bundling upon us, that “panic” state is going to continue, with hospitals just looking to cut any kind of spending. The emphasis today, and I believe for the next 12 months, will be on pure cost cutting and not bringing in new variables/products. As more sophisticated hospitals begin to recognize that they are being too extreme, they will begin listening to the surgeon again and clinical outcomes will play a bigger role in the decision process. Today, too many VACs are being driven by financial people who do not have the in-depth knowledge to know everything about each vertical in the hospital.

Ryan Denney, Veran: I don’t believe that we have seen a significant change over the course of the last 24 months. That said, I am primarily dealing with a very disruptive technology, and the perceived benefits of the technology are well accepted by the VAC.

For commodity driven products, I would assume that the VAC has become significantly more challenging regarding approval. Most hospitals are making a concerted effort to minimize the number of vendors on the shelf, and there has definitely been an effort to limit “similar” or “me too” products.

Regardless of GPO and/or hospital system size, hospitals have continued to push for and enforce standardization for devices that are considered to be commodities. Hospitals have also leveraged market consolidation to their advantage on commodity product negotiation. In addition, a substantial shift and increase in hospital employed physicians has obviated the need to cater to these physicians. Hospitals are not faced as often with the threat of a private practice physician to take their cases to another facility that will acquire their desired technologies or devices.

Tom Dugan, Amniox Medical: Pressure has increased, which is ultimately designed to slow or stop the sales process, limit vendors and give the institution more control over product selection and cost. This will continue for the foreseeable future.

Preparing for Tomorrow

The general consensus remains that hospitals increasingly are acting more like Fortune 2000 corporate America as it relates to their focus on cost reduction and institutional profitability. As reimbursement trends change the healthcare landscape, hospitals are simultaneously controlling costs and demanding concrete value from their vendors. With Value Analysis Committees serving as the gatekeepers to clinical spend, providing health economic data supporting claims for lower cost, better outcomes and happier patients is paramount.

River Cities is one of the most active healthcare investors in the US with a 22-year track record of funding successful medical device companies. We take pride in supporting some of the most innovative technologies and entrepreneurial teams in the device category and applaud their success in navigating the path to hospital adoption. Some of our most recent exits in the medical device category include: Surgiquest, sold to Conmed (NASDAQ:CNMD) for $265M in 2015; OrthoHelix, sold to Tornier (NASDAQ:TRNX) for $135M plus potential earn-out in 2012; and OrthoScan, sold to ATON US in 2011.

]]>Space Center Houston and NineSigma Invite People to Help Shape the Future of Deep Space Explorationhttp://rccf.com/space-center-houston-and-ninesigma-invite-people-to-help-shape-the-future-of-deep-space-exploration/
Thu, 18 Aug 2016 14:41:17 +0000http://rccf.com/?p=2963Today, the science and space learning center Space Center Houston, innovation firm NineSigma and NASA's Centennial Challenges Program announced the launch of the Space Robotics Challenge. The $1 million challenge will help further space exploration while inspiring the next generation of scientists.

]]>Building homes on Mars and interplanetary travel are no longer the stuff of science fiction; the latest achievements in robotics are putting these dreams within our reach. Today, the science and space learning center Space Center Houston, innovation firm NineSigma and NASA’s Centennial Challenges Program announced the launch of the Space Robotics Challenge. The $1 million challenge will help further space exploration while inspiring the next generation of scientists.

The Space Robotics Challenge is part of the NASA Centennial Challenges Program, which was created to further NASA’s journey to Mars while helping America maintain its technology leadership. It focuses on developing software to increase the autonomy of dexterous mobile robots, including NASA’s humanoid Robonaut 5 (also known as Valkyrie), either in transit or on other planets. Competitors will be challenged to program R5 to perform “representative tasks” such as exiting a habitat airlock hatch, using a ladder to reach the surface, repairing a tire on a planetary rover and removing a power cable from storage and attaching it to a far-away connector, all while crossing irregular terrain.

“The Space Robotics Challenge will engage all generations through innovative robotic design,” said Space Center Houston’s President and CEO William T. Harris. “As the need for advanced technology continues to grow, this challenge will expand the global effort to accelerate our robotic capabilities for space exploration.”

Registration for the Space Robotics Challenge begins today, with a qualifying round running from mid-September to mid-November. Finalists of that round will be announced in December and will engage in open practice from January to early June 2017. The final virtual competition will be held in June 2017, and winners will be announced at the end of June at Space Center Houston.

“Citizen scientists,” independent teams, research organizations and private companies are invited to submit proposals through NineSigma’s Open Innovation community at www.NineSights.com. Challenge participants will vie for a prize pool of up to $900,000 and winners will receive funding to continue research and discovery. Space Center Houston also will manage a complementary challenge program for kindergarten through 12th grades and undergraduate students with a prize pool of up to $100,000.

“Expanding the abilities of humanoid robots is critical for advancing human colonization of Mars, and for making life easier and better on our own planet,” said NineSigma CEO Dr. Andy Zynga. “We are thrilled to help NASA reach out to experts with software development capabilities to move us closer to these goals.”

NineSigma, which has worked with NASA on other prize-based challenges, specializes in open innovation and helps organizations tap into a community of scientific and technical experts who have developed technologies that are ready to be incorporated into groundbreaking solutions.

The Digiday Signal Awards recognize the best of marketing and advertising technology platforms “that are bringing efficiency, effectiveness, and creativity to the media and marketing process for brands, agencies, and publishers.”

By making location data actionable and local content scalable, SIM Partners’Velocity platform drives customer acquisition for national brands across thousands of physical locations. With Velocity, national brands can create location-based offers to turn “near me” mobile searches into offline conversions. Businesses ranging from Harry & David to Red Wing Shoes rely on Velocity to boost retail sales and enhance the mobile discovery experience.

“Our Velocity platform was built to use the context of location to turn ‘near me’ moments of intent into ‘next’ moments of conversion,” said Jon Schepke, CEO, SIM Partners. “Winning a Digiday Signal Award for best location-based marketing platform is a proud moment for our company, as it validates the work our team has put into driving innovation against our vision, as well as celebrates the results we are achieving for our clients.”

]]>TissueTech Inc., announced the publication of initial clinical experience with in-utero spina bifida repair using NEOX cryopreserved umbilical cord allograft marketed by Amniox Medical Inc., a TissueTech company. The data were published in Obstetrics & Gynecology by Dr. Ramesha Papanna of UTHealth McGovern Medical School and the Fetal Center at Children’s Memorial Hermann Hospital, Houston, Texas.

Spina bifida is characterized by the incomplete development of the coverings of the brain, spinal cord or meninges – the protective covering around the brain or spinal cord – according to the National Institute of Neurological Disorders and Stroke. It is the most common neural tube defect in the country, affecting 1,500 to 2,000 of the more than 4 million babies born each year. The defect can result in paralysis, urinary or bowel dysfunction and mental retardation.

The paper highlights two pregnancies where the fetuses were found to have large myeloschisis defects and underwent in-utero spina bifida repair at mid-gestation with closure of the skin defect using NEOX CORD 1K® Wound Allograft.

Following the procedures, both pregnancies were uncomplicated and deliveries occurred at 37 weeks by planned Cesarean. The repair sites were intact with no evidence of cerebrospinal fluid leakage and with skin regenerated after delivery over a period of three to four weeks. Short-term outcomes after delivery showed reversal of hindbrain herniation, minimal spinal cord tethering, and normal function of the lower extremities, suggesting that cryopreserved human umbilical cord tissue for in-utero spina bifida repair may be a suitable patch option for the spina bifida closure.

“The results of these two cases suggest the application of an umbilical cord patch is a viable way to treat spina bifida in-utero,” said Dr. Papanna. “Cryopreserved human umbilical cord is currently widely used for ocular surface repair and chronic skin ulcers because its innate regenerative properties facilitate faster healing with minimal scarring. The findings from this study suggest these unique properties may eliminate the scar formation associated with traditional repair methods and reduce the need for future surgeries to address that complication.”

“These cases provide additional evidence of the regenerative properties of CryoTek® preserved umbilical cord tissue,” said Dr. Scheffer Tseng, Chief Science Officer and Co-Founder of TissueTech. “TissueTech was the first to develop this technology for clinicians and continues to lead the field in developing new and innovative applications that benefit patients in the most need.”

In utero, wound healing occurs rapidly and with minimal scar. This restorative ability is innate to placental tissues and can be preserved and transplanted to other wound environments. Heavy chain hyaluronic acid/pentraxin-3 (HC-HA/PTX3) is the key protein complex present in these tissues to orchestrate that regenerative healing process. TissueTech is the first provider of a human tissue allograft composed of both umbilical cord and amniotic membrane. The Company utilizes its proprietary CryoTek process, a cryopreservation technology, to preserve the biological and structural integrity of these tissues more effectively than other available technologies.